Grant Agreement – BNTF

21May2012

May 25, 2009

No. 13/09-BD

CDB AND TCI SIGN GRANT AGREEMENT FOR BASIC NEEDS TRUST FUND

The Caribbean Development Bank (CDB) and the Government of the Turks and Caicos Islands (TCI) have signed a grant agreement for USD0.559 mn to be used for sub-projects under the sixth cycle of the Bank’s Basic Needs Trust Fund (BNTF) programme. The agreement was signed today in Providenciales, TCI, where CDB’s Annual Meeting is taking place.

BNTF 6 will assist poor communities in ten CDB borrowing member countries improve basic infrastructure and services, and increase potential for economic activity through skills training and capacity-building initiatives. The programme will provide resources for implementation of sub-projects, project management and technical services. It will also provide support to improve the capacity of community-based organisations in the application of participatory approaches for planning and monitoring of sub-projects and decision-making. The regional component will provide programme support, coordination and administration.

CDB is providing USD0.317 mn, while TCI is contributing USD0.242 mn, bringing the sum available to TCI to USD0.559 mn. Of this amount, a total of USD0.384 mn will be available for funding eligible BNTF 6 sub-projects. The funds will be committed to sub-projects over the period 2008 to 2011 and disbursed between 2009 and 2012.